Earnings Per Share

9 Months Ended

Sep. 30, 2017

Earnings per share consisted of the following components for the periods indicated:



	Three Months Ended				Nine Months Ended
	September 30				September 30
	2017		2016		2017			2016
	(Dollars in thousands, except per share data)
Net income	$	23,852	$	20,484	$	65,140		$	59,469

Weighted Average Shares
Basic shares	27,436,792		26,324,316		27,242,902			26,301,340
Effect of dilutive securities	76,307		53,072		78,043			48,354
Diluted shares	27,513,099		26,377,388		27,320,945			26,349,694

Net income per share
Basic EPS	$	0.87	$	0.78	$	2.39		$	2.26
Effect of dilutive securities	—		—		(0.01		)	—
Diluted EPS	$	0.87	$	0.78	$	2.38		$	2.26

The following table illustrates the options to purchase common stock or shares of performance-based restricted stock that were excluded from the calculation of diluted earnings per share because they were anti-dilutive for the periods indicated:



	Three Months Ended		Nine Months Ended
	September 30		September 30
	2017	2016	2017	2016
Stock options	—	4,293	—	1,441
Performance-based restricted stock	—	—	—	—